Exhibit 4: M&A deals by

Size of automotive industry

In the age of 3-D computer modeling and Oculus Rift virtual reality headsets, you’d believe the automobile business might give up clay modeling. However in fact, the age-old art of layering a lot of money of clay over a foam core, investing months shaping every curve yourself, plus saving the design in an air tight container to revisit the second year, is still seen essential within the automobile industry.

A recent piece because of the Associated Press explored the steadfastness associated with occupation, talking-to Joe Dehner, mind of Dodge & Ram Truck outside design towards art. Once the reporter, Michael Wayland, describes:

Twenty-five years back, as milling and computer-aided design programs transformed the look procedure, it felt clay modelers is all but extinct. Bean counters saw the new technologies in an effort to reduce the design process and conserve money.

But carmakers found these were switching out lackluster cars due to deficiencies in hands-on relationship and being not able to effortlessly examine styling.

"there clearly was an infatuation using the technology where there was a rush doing completely digital, " Dehner told The Detroit Information. "we nonetheless think there is a desire within the design ranks to be more officially savvy, but the one thing concerning this is you're adding the individual factor."

That "human element" may sound unquantifiable, just like the unclear musings of a music aficionado just who keeps onto a scratchy collection of documents rather than embracing flawless digital news platforms. But just as documents contain indicators lost to digital compression, clay provides some thing contemporary modeling practices do not. As Chris Svensson, the manager of design for Ford's North and Southern United states functions informed the Wall Street Journal last year:

'We always came ultimately back to clay.' The problem is, he says, electronic forecasts can't accurately show exactly how light will play on an automobile's area. 'You can't replicate the sun.'

Nonetheless, computer system technologies have paid down the actual quantity of clay designs used by a. Autodesk informed the Journal that one European producer had utilized electronic workflows to lessen its clay builds by 70%. Therefore whilst couple of continuing to be clay modelers demand salaries of $100, 000 or even more a-year that can never be going extinct anytime soon, they remain an endangered species.



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